FoundOcean acquires Cape Holland

NETHERLANDS: Offshore foundations specialist FoundOcean has acquired a majority stake in monopile installation firm Cape Holland Group.

Cape Holland used a vibropiling hammer at the Riffgat offshore project
Cape Holland used a vibropiling hammer at the Riffgat offshore project

FoundOcean said the deal was in line with its growth strategy in acquiring companies with similar operations and to expand its offering to the offshore wind industry.

A spokesperson for FoundOcean said the group was looking to make further acquisitions.

The two companies will continue to operate separately under a new FoundOcean Group brand, the spokesperson explained.

FoundOcean said it remains focused on the offshore market and is uninterested in expanding into the onshore sector.

Cape Holland previously helped to install the 576MW HelWin1 converter platform in the North Sea for Siemens.

In 2012, Italian private equity firm Ambienta acquired a 35% stake in FoundOcean.

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